Trading is a challenge even for the most highly trained and experienced individuals. It is a zero sum game where someone’s gain is another person’s loss. You need to be wiser and faster than others in order to succeed. You must be disciplined and consistent with your moves. Anything that can provide a winning advantage is welcome. For many, this has come in the form of an automated trade manager. This piece of software can initiated trades on your behalf. It obeys your commands to the letter while you attend to other important matters in your life. Automated trade manager come with the following benefits:
Reduced Emotional Impact
One cannot help but feel emotions when trades go right or wrong. After all, it’s our money on the line. It is our future, our family’s welfare, our hopes, and our dreams. We feel happy when we make lots of profit. We feel depressed when we lose a big bet on the market. However, the ideal trader treats both of these the same way. We need to be analytical instead of emotional. We must study the reasons behind the outcomes instead of wallowing in emotions.
Greed and fear are also extremely powerful. They can make us do things that we normally wouldn’t. We might go with the crowd in seizing an opportunity only to realize our folly in the end. We might also get overly pessimistic and hesitate to move. We miss out on chances due to cautiousness. With automation, our trades are shielded from emotions because we hand over the reigns to a computer that simply follows our rules.
Customized Trading Rules
Most programs of this type have wizards for creating trading rules. These provide the most common technical indicators and suggests how they are handled. Beginners will find these useful because they can set everything up and leave things behind in a snap. More experienced traders might forego the wizard and create their own customized rules tailored to their risk appetite and accumulated knowledge.
Rapid Trade Execution
Humans have a large time delay when executing trades because they need to evaluate everything first before making a decision. Computers can process a much larger set of information faster. They also monitor the markets continuously. If they find that the conditions are ripe for your rules, then they will execute a trade according to your wishes. Their speed can mean the difference between catching the boat or being left behind.
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